Daniel Porter
May 24, 2012

HP to post significant job cuts

Meg Whitman, HP's president and CEO since Q4 2011, is launching a large-scale corporate restructuring in hopes of helping the company find an identity in the ever-treacherous world of mobile technology. HP announced yesterday that it expects 27,000 employees -- 8% of its workforce -- to exit the company in the next year and a half. HP will use the savings to "boost investment in innovation around its three areas of strategic focus: cloud, big data and security, as well as in other segments that offer attractive growth potential."